The Venture Codex

Led · Series B · Mar 2026

Founded in 2019, Santexpat operates as a digital insurance broker focused exclusively on providing health-insurance solutions to expatriates. The company aggregates and distributes tailored medical-coverage plans, helping mobile professionals secure compliant, competitively priced policies in their destination countries. Its model blends online enrollment with advisory services, positioning the firm as a one-stop shop for globally mobile customers. With growing demand for cross-border healthcare coverage, Santexpat is expanding both organically and through acquisition; the latest capital injection will finance the purchase of two rival brokers to deepen market reach and enlarge its policy portfolio. Although detailed revenue or user metrics were not disclosed, the firm has completed five funding rounds in total, signaling steady investor support. Malakoff Humanis, a major French insurer, has been a recurring backer since 2023, underscoring institutional confidence in the platform’s scalability.

Participated · Equity · Dec 2023

FASST provides a streamlined digital platform to digitalise distribution of insurance products, focusing on efficient client journeys, regulatory compliance, data management and document handling. Its modular suite includes HUB (regulatory processes), Flexi (centralising offers), OIP (Open Insurance Platform for digital subscription and onboarding) and a Marketplace of add‑ons. The company was founded in 2017 by Xavier Favre and Yasser Echoukry and is based in Angoulême with offices in Paris and Bordeaux. FASST employs 95 people, serves 30+ major customers and has reported a significant increase in turnover and a doubling of recurring revenues over the last twelve months. The financing will be used to accelerate development of modular, flexible functionalities and to support expansion in France and across Europe to meet insurers' digital transformation needs. It is supported by sector shareholders and partners including AG2R LA MONDIALE, Malakoff Humanis, Digital Insure, Covea and the M Capital fund. Fasst develops digital distribution platforms and marketplaces for insurers, including the OIP distribution platform, a marketplace of sales modules, and the Flexi suite for product and document configuration. It launched a Hub Patrimoine in October that aggregates seven vendors for CRM, account aggregation, patrimonial and retirement reporting, compliance management, asset allocation strategies and behavioral finance, and earlier created a Hub CCN to simplify digitalization of collective bargaining agreements. The company is refocusing from consulting and systems integration toward a software-publisher model and is certifying specialized integrators to handle integrations on its behalf. Fasst says it has about 40 client references and adds roughly one insurer client per month. It employs nearly 100 people mainly in Angoulême and Bordeaux, plans to hire about 20 more in the first half of 2024, expects €7.5M in revenue this year and reports having already signed €15M for next year.

Participated · Equity · Dec 2023

i-Virtual is a Metz-based medtech company that developed the first CE-certified-as-a-Medical-Device technology to measure vital signs from a simple video selfie. Its solution captures cardio-respiratory and well-being parameters useful for telemedicine, prevention and remote monitoring. The company counts clients in five European countries in the telemedicine sector and is developing partnerships with players in the automotive and aerospace industries. i-Virtual has raised a second funding round of €3M, bringing total funding to €6.1M. The startup is advancing R&D to finalise camera-based blood pressure measurement and is pursuing a roadmap to research new camera-derived biomarkers. Management says the new capital will accelerate commercial expansion across Europe and consolidate its market position.

Participated · Equity · May 2022

Cegedim Santé consolidates several Cegedim subsidiaries (CLM, RM Ingénierie, Médimust, and Maiia/Docavenue) to deliver interoperable healthcare software and services across the care pathway. The unit supports about 100,000 healthcare professionals and employs some 1,300 people nationwide in France. Its core offerings include the Maiia appointment scheduling and telemedicine suite, the Claude Bernard medication database, and ownership of Kobus Tech and RESIP. Cegedim Santé accounted for 12% of Cegedim Group’s revenues in 2021. The company plans to accelerate growth and product integration by acquiring telemedicine pioneer MesDocteurs and by partnering with major social protection groups. These moves are positioned to support France’s Ma Santé 2022 digital-health objectives and to leverage Cegedim’s sovereign cloud to drive sector digital transformation.